Hyperliquid Eyes US Entry Through Partnership with Kraken's Parent Company
Hyperliquid Labs is engaged in advanced discussions with Payward, the parent company of cryptocurrency exchange Kraken, according to a September 1st Bloomberg report citing people familiar with the matter. The talks focus on a potential arrangement that would allow Hyperliquid to offer perpetual futures trading to U.S.-based traders through Payward's established infrastructure and regulatory pathways.
The Regulatory Gateway and Proposed Model
The proposed partnership hinges on regulatory approval, the sources indicated. If cleared by U.S. authorities, American users could eventually gain access to a novel type of derivative product via Bitnomial, a trading platform owned by Payward that operates under specific regulatory licenses.
These perpetual futures contracts would be uniquely tied to the price of tokens built and traded natively on the Hyperliquid blockchain. This structure would provide U.S. investors with exposure to the price movements of assets on the high-performance chain without requiring direct interaction with the chain itself.
Political Context and Market Implications
The negotiations follow recent political commentary. Several weeks prior, former U.S. President Donald Trump stated that his administration was actively working to facilitate the entry of Hyperliquid, which he described as a rapidly growing platform, into the American market.
Representatives for both Payward and Hyperliquid Labs declined to comment. The sources requested anonymity due to the private nature of the discussions. Gaining access to the tightly regulated U.S. crypto derivatives market represents a significant challenge, and a successful partnership could set a notable precedent for blending compliance with innovative financial products.